6,756 Shares in Franklin Electric Co., Inc. $FELE Bought by AXQ Capital LP

AXQ Capital LP bought a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,756 shares of the industrial products company’s stock, valued at approximately $643,000.

Several other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after buying an additional 101 shares during the last quarter. MAI Capital Management raised its position in Franklin Electric by 36.5% during the second quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 131 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Franklin Electric by 24.3% in the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 119 shares during the last quarter. Covestor Ltd grew its position in Franklin Electric by 24.6% in the third quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Franklin Electric by 10.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 114 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Up 3.8%

Franklin Electric stock opened at $98.92 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.18. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $111.53. The firm has a fifty day moving average price of $100.17 and a two-hundred day moving average price of $97.15. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.75 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). Franklin Electric had a net margin of 6.90% and a return on equity of 14.52%. The business had revenue of $506.86 million during the quarter, compared to analyst estimates of $516.25 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were given a $0.28 dividend. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 5th. Franklin Electric’s dividend payout ratio (DPR) is currently 34.78%.

Insider Buying and Selling at Franklin Electric

In related news, CEO Joseph A. Ruzynski acquired 500 shares of the stock in a transaction dated Thursday, February 19th. The shares were acquired at an average price of $93.34 per share, for a total transaction of $46,670.00. Following the completion of the purchase, the chief executive officer owned 22,722 shares in the company, valued at approximately $2,120,871.48. The trade was a 2.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FELE. Wall Street Zen lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Monday, December 29th. DA Davidson set a $100.00 price target on Franklin Electric in a research note on Thursday, February 19th. Finally, Robert W. Baird set a $112.00 price objective on Franklin Electric in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.00.

About Franklin Electric

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.